RBS, which owns Coutts, said that it would not send any employees to MIPIM, the property conference

Coutts, the Queen’s favourite bank, has pulled out of an exclusive property party that it has hosted for years on the French Riviera as the fallout from the President’s Club scandal continues.

RBS, which owns Coutts, said that it would not send any employees to MIPIM, the world’s largest property conference held every March in Cannes.

The biggest names in property attend the event to negotiate deals and exchange gossip, many of them staying on yachts. RBS, which is 70 per cent owned by the UK taxpayer, said that Coutts would no longer be involved in the party for 300 guests that it usually hosts with the property group James Andrew International.

James Andrew is chaired by Harvey Soning, who was a trustee of the…

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